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Shiba Inu (SHIB) Rival FLOKI Jumps by 50%

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Sat, 9/03/2024 - 13:46
Shiba Inu (SHIB) Rival FLOKI Jumps by 50%
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Meme cryptocurrencies, especially dog-themed coins, are yet again outperforming other segments of the altcoin scene. Floki (FLOKI), a key rival of Dogecoin (DOGE) and Shiba Inu (SHIB), leads the rally for meme coins.

Floki (FLOKI) almost hits new ATH amid impressive rally

Today, March 9, 2024, large-cap meme cryptocurrency Floki (FLOKI) set a local high above $0.00027 on spot centralized exchanges. This is the highest FLOKI price level since Nov. 10, 2021.

The coin briefly entered the top 50 cryptocurrencies by market capitalization. In the last month, Floki (FLOKI) registered an almost 9x rally amid the market upsurge.

Also, the FLOKI ecosystem witnessed an all-time high TVL above $693 million in equivalent. The aggregated trading volume exceeded $2.7 billion in the last 24 hours.

In terms of social sentiment, FLOKI jumped into the top rankings of many cryptocurrency data aggregators.

The rally should likely be attributed to the general optimism on altcoin markets and the major listing announcement for the FLOKI/USDT pair.

Meme coin segment capitalization blasts past $61.5 billion

Besides that, FLOKI pairs became the most popular on large regional exchanges Bithumb, BTCTurk and Paribu.

In general, the meme coin sphere is leading the starting bullish rally for crypto. In the last 24 hours, top Avalanche (AVAX) meme coin Coq Inu (COQ) added over 40%.

The net market cap of meme coins tracked by CoinGecko exceeded $61.5 billion in equivalent, up by 11% overnight. To provide context, the net crypto cap only added 1% in the last 24 hours.

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